Maravai LifeSciences (NASDAQ:MRVI) Sees Large Volume Increase – Time to Buy?

Shares of Maravai LifeSciences Holdings, Inc. (NASDAQ:MRVI) saw strong trading volume on Monday . 2,252,800 shares traded hands during mid-day trading, an increase of 89% from the previous session’s volume of 1,192,284 shares.The stock last traded at $3.07 and had previously closed at $3.08.

Analysts Set New Price Targets

Several research analysts recently commented on MRVI shares. Wall Street Zen upgraded shares of Maravai LifeSciences from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Wells Fargo & Company raised their target price on shares of Maravai LifeSciences from $4.00 to $4.50 and gave the company an “overweight” rating in a research note on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Maravai LifeSciences presently has a consensus rating of “Hold” and a consensus price target of $4.86.

Maravai LifeSciences Trading Down 1.0%

The stock’s fifty day simple moving average is $3.45 and its 200-day simple moving average is $3.30. The company has a debt-to-equity ratio of 0.85, a current ratio of 6.60 and a quick ratio of 5.69. The firm has a market cap of $797.81 million, a PE ratio of -3.47 and a beta of 0.38.

Maravai LifeSciences (NASDAQ:MRVI) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The firm had revenue of $49.87 million for the quarter, compared to analyst estimates of $49.06 million. Maravai LifeSciences had a negative net margin of 70.40% and a negative return on equity of 22.79%. On average, sell-side analysts forecast that Maravai LifeSciences Holdings, Inc. will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On Maravai LifeSciences

Institutional investors and hedge funds have recently modified their holdings of the company. Tejara Capital Ltd increased its holdings in Maravai LifeSciences by 26.4% in the 3rd quarter. Tejara Capital Ltd now owns 2,453,441 shares of the company’s stock worth $7,041,000 after buying an additional 511,992 shares during the period. Monaco Asset Management SAM lifted its stake in Maravai LifeSciences by 315.0% during the 3rd quarter. Monaco Asset Management SAM now owns 3,656,337 shares of the company’s stock valued at $10,494,000 after acquiring an additional 2,775,372 shares during the period. Immersion Corp boosted its holdings in shares of Maravai LifeSciences by 153.3% in the 2nd quarter. Immersion Corp now owns 990,000 shares of the company’s stock valued at $2,388,000 after acquiring an additional 599,164 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Maravai LifeSciences in the 2nd quarter valued at $72,000. Finally, Royce & Associates LP increased its stake in shares of Maravai LifeSciences by 38.0% in the third quarter. Royce & Associates LP now owns 1,761,764 shares of the company’s stock worth $5,056,000 after acquiring an additional 484,908 shares during the period. Institutional investors and hedge funds own 50.25% of the company’s stock.

About Maravai LifeSciences

Maravai LifeSciences Holdings, Inc (NASDAQ: MRVI) is a life sciences company specializing in the development and supply of critical reagents and services for the development and manufacture of biologic therapies. The company’s offerings support a range of applications in genomics, molecular diagnostics, vaccine development and next-generation sequencing. Maravai’s platforms address key challenges in nucleic acid production, protein detection, epigenetic analysis and reagent quality across the biopharmaceutical industry.

Through its product portfolio, which includes proprietary mRNA capping reagents, lipid nanoparticle delivery systems, synthetic oligonucleotides and high-precision assay kits, Maravai enables customers to accelerate research and streamline manufacturing workflows.